Recently, the industrial paradigm has changed rapidly, and the IoT (Internet of things), big data, and ICT (information and communication technology) industries are in the center. However, Korean companies preparing start-ups in this changing situation have difficulty in understanding cross-industry properties of the emerging industries and proposing new customer values in the market. This study originates from the relatively unexplored research questions that the survival and growth strategies pursued by start-up entrepreneurs in the emerging industries will show a series of patterns. To solve these research questions, we analyze the cases of the innovative start-ups and their growth experiences in the emerging industries. We find that IoT start-ups show both born-global tendency and disruptive innovation in their products. Our results provide implications for Korean start up SMEs in the IoT industry and for them to pursue sustainable growth in global market.